DIP Lenders definition
Examples of DIP Lenders in a sentence
The provisions of this Section 10.18 are for the sole benefit of the DIP Lenders and shall not afford any right to, or constitute a defense available to, any Credit Party.
The Debtors are unable to obtain financing on more favorable terms from sources other than the DIP Lenders under the DIP Documents and are unable to obtain adequate unsecured credit allowable under section 503(b)(1) of the Bankruptcy Code as an administrative expense.
In the event of any conflict between the provisions of this Agreement and those of any other Credit Document, the provisions of this Agreement shall control; provided that the inclusion of supplemental rights or remedies in favor of the Agents or the DIP Lenders in any other Credit Document shall not be deemed a conflict with this Agreement; and provided, further, that to the extent any specific provision hereof or any other Credit Document is inconsistent with the Orders, the Orders shall control.
With respect to a Borrowing of Third Draw New Money Term Loans, (i) the Borrower shall have (x) delivered to the Lenders at least one indication of interest with respect to a Strategic Transaction that is acceptable to the Required DIP Lenders in their sole discretion or (y) agreed upon the principle terms of an Acceptable Plan of Reorganization and (ii) the applicable Subsequent Funding Conditions shall have been satisfied after giving effect to such Borrowing.
The Administrative Agent and the DIP Lenders shall give the Borrower the opportunity to participate in any discussions with the Borrower’s independent public accountants.